MUMBAI: The outgoing Chairman of Mahindra & Mahindra group Keshub Mahindra today said uncertainties over policies and 'vacillation on major reforms' are adding to the woes of the industry and the government need to clarify those to restore the growth path of the economy. Addressing the shareholders of the company at the Annual General Meeting here, Mahindra said weak domestic macro- economic factors such as high inflation, large fiscal and current account...

Mahindra & Mahindra's board has always tended to be ahead of its times. For example, it had an audit committee and remuneration committee much before they became mandatory. Even today, the Board has a technology committee that looks into the company's research and development initiatives, an extra bit of work it is not required to do, but does anyway. Most of these progressive measures are thanks to chairman emeritus Keshub Mahindra, who spent 60...

MUMBAI: Automobile major Mahindra & Mahindra is looking for new launches for growth, chairman of the company Keshub Mahindra said here on Thursday. Addressing the 63rd annual general meeting of the company, Mahindra said last fiscal was very difficult. Many internationally big automobile companies suffered heavily. However, Mahindra managed to augment its growth by launching new models and would be banking upon new products to maintain the sales momentum. ...

MUMBAI: Keshub Mahindra , the non-executive chairman of utility vehicle maker Mahindra & Mahindra , has resigned from the Prime Minister's Council of Trade & Industry after being convicted in the Bhopal gas case. A person close to the matter said Mr Mahindra, 86, sent his resignation to the Prime Minister on Tuesday. The advisory body, consisting of India's leading industrialists, acts as an interface between government and business. The...

JABALPUR: Madhya Pradesh High Court today issued notices to seven persons, convicted in the Bhopal gas tragedy case, following a petition filed by the CBI demanding their retrial. Justice M A Siddiqui issued notices to all seven convicts, seeking replies within four weeks. The CBI in its petition is demanding the retrial of all seven for culpable homicide not amounting to murder under section 304-II of Indian Penal Code. Assistant Advocate General Rashid Suhail Siddiqui...

NEW DELHI: At the 66th annual general meeting of Mahindra & Mahindra in Mumbai, Keshub Mahindra , 88, addressed shareholders for the last time as the chairman of the company. A director for 64 years at M&M and chairman for 48, Keshub Mahindra, officially resigned from the board. "This is it. I resign as the director and chairman of Mahindra & Mahindra," the industry veteran said, in an emotional AGM which was flocked by the largest gathering of M&M shareholders in recent...

NEW DELHI: The Supreme Court on Tuesday issued notices to former UCIL chairman Keshub Mahindra and six other convicts in the Bhopal gas case , asking why charges against them should not be modified to a stringent IPC 304-II instead of 304A. 304-II provides for 10 years imprisonment whereas 304A conviction entails only 2 years prison term. The apex court was hearing a curative petition filed by the CBI in the case. ...

MUMBAI: Keshub Mahindra , chairman of Mahindra & Mahindra and director on the boards of Bombay Dyeing and HDFC , will not have to step down from these directorships despite his conviction in the criminal case arising from the Bhopal gas tragedy. ( Watch ) According to a provision of the Companies Act, 1956, a director can be removed if he is convicted for an offence attracting more than six months imprisonment. But...

This refers to 'Bhopal lapse: Seek systemic solutions' (ET, July 6). There was a collective failure from the executive to the judiciary. The US compelled BP to pay for damages to the environment and the people, but is insensitive to the Bhopal tragedy involving its own companies. Union Carbide commissioned National Environmental Engineering Research Institute (Neeri) in 1994 to study the site. In 1996, it gave the report, suggesting borewells to drain out toxic water and treat it. But Union Carbide did absolutely...

MUMBAI: The outgoing Chairman of Mahindra & Mahindra group Keshub Mahindra today said uncertainties over policies and 'vacillation on major reforms' are adding to the woes of the industry and the government need to clarify those to restore the growth path of the economy. Addressing the shareholders of the company at the Annual General Meeting here, Mahindra said weak domestic macro- economic factors such as high inflation, large fiscal and current account...

MUMBAI: Diversified conglomerate Mahindra & Mahindra's outgoing group Chairman Keshub Mahindra today asked its workforce to work together with the management in order to scale newer heights. The comment from Mahindra, who has been the Chairman of the group for the last 45 years, comes at a time when rival automobile firm Maruti Suzuki is facing its one of the worst worker-management relationship that escalated into a severe violence, killing one...

NEW DELHI: Homegrown farm equipment to aerospace major, Mahindra & Mahindra on Wednesday said its Chairman Keshub Mahindra will retire in August and his nephew Anand Mahindra will take over as Chairman and Managing Director of the $15.4 billion conglomerate. Keshub, who informed the M&M Board about his intention to retire at the conclusion of the forthcoming Annual General Body Meeting scheduled on August 8, 2012, will become Chairman Emeritus of...

NEW DELHI: Chief economic advisor Kaushik Basu on Friday said decision-making has slowed down in the government, but blamed it on the recent spate of scams . "There is a certain slowdown in bureaucratic decision-making. Given the corruption scandals and subsequent witch hunt, some decision-makers are going slow," Basu said. Basu's remark is in line with what experts and industrialists have been saying about tardy decision-making...

NEW DELHI: Institute of Company Secretaries of India has honoured Wipro and Hero Honda Motors for being best governed private companies. Tamil Nadu Newsprint and Papers Ltd was recognised as the best governed company in the public sector. The ICSI Lifetime Achievement Award was conferred to Keshub Mahindra, chairman of Mahindra and Mahindra Ltd.. The companies were chosen by a panel of jury headed by former Chief Justice of India BN Kirpal. The...

NEW DELHI: Mahindra & Mahindra (M&M) is talking to key shareholders ahead of its annual general meeting, slated for July 28, to head off any challenge to the re-election of Keshub Mahindra, the company's venerable 86-year-old chairman. The recent conviction of Mr Mahindra in the Bhopal gas leak case has raised the possibility of some shareholders questioning his continuation in the top job, turning what is normally a humdrum affair into a potential media circus. Two people...

By Mukul Rohatgi The Supreme Court on Wednesday has shown moral courage in its verdict delivered in the case of Union Carbide. It has shown that under our constitutional scheme, the courts are courts of law and not courts of public opinion. Keshub Mahindra had moved the apex court in 1996 seeking a dilution of charges against him in the Bhopal tragedy case. A two-judge bench of the Supreme Court allowed the plea of Keshub Mahindra...